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What mining machine is used for the scrypt algorithm (mining machine for the scrypt algorithm)

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What mining machine is used for the scrypt algorithm? Currently, the most popula

What mining machine is used for the scrypt algorithm (mining machine for the scrypt algorithm)

What mining machine is used for the scrypt algorithm? Currently, the most popular method for mining Bitcoin in the market is using hashrate to mine blocks, which can reduce the power consumption of ASIC and GPU mining machines. According to the latest news, the scrypt algorithm has a mining power of 35.8 TH/s, producing an average of 2 BTC per second. This means that over 50% of the total network power has already been mined. Additionally, in the current market situation, the price of Ethereum is relatively high.

So, what mining machine is used for the scrypt algorithm? Let’s take a look at the specific parameters.

Mining Machine for the scrypt algorithm

Editor’s Note: This article is from Colorful Cloud Blockchain (ID: cybtc_com), authorized by Odaily Star Daily.

There are two mining methods for the scrypt algorithm:

One is to use hashrate to reduce the Bitcoin block reward, and the second is to use machines that utilize the scrypt algorithm.

The S2F model of Ethereum has been proposed in 2017, and this solution has been widely applied. However, there are still some issues to be aware of: 1. The difficulty of S3 and E9 is very high; 2. Because the PoW mechanism does not allow anyone to create checkpoints or vulnerabilities on full nodes; 3. It is difficult for those without sufficient hard drive capacity to gain profits. If someone can guarantee the security of their private keys and have enough space to process a large number of transactions, then it is likely to fail. Therefore, we can consider the scrypt algorithm as the latest version of the Bitmain’s Antminer, which is the most mainstream. Currently, the most popular products in the market that adopt this technology are Antminer M10S, Shenma M20T, and Avalon A6Pro.

In addition to the miners mentioned earlier, several other mining companies are considering using devices with the scrypt algorithm. For example, the recently popular MicroBTS8 uses a “random number generation” mode. When the eos32 series miners were released in May this year, a new type of product using the scrypt algorithm also appeared. Some of these miners are quite special, such as Antminer S19+, Xindong Z11+, and Yilong S17+, etc. However, it is worth emphasizing that these new scrypt algorithm miners do not directly affect their prices. Therefore, such statements are problematic and controversial. (Image source: coindesk)

According to the official data, the Bitmain mining pool has launched scrypt mining contracts and supports the scrypt algorithm. Specifically, there should be only about one ASIC mining farm designed for the scrypt algorithm, which means that the price of this mining machine is only about 30 RMB. And due to the low cost of Bitcoin mining at present, it can only attract some novice investors. However, achieving this still requires a significant amount of time. However, the mining algorithm of scrypt is different from that of Bitcoin mining and is currently only suitable for mining with older generation graphics cards.

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